Caesars has broken ground on a new casino and entertainment venue located in New York City’s Times Square. Caesars Entertainment has secured the support of civil rights activist Reverend Al Sharpton and digital real estate entrepreneur Ryan Williams for its Times Square casino project in New York City.
Both Sharpton and Williams have publicly expressed their support for the project, which would create a gaming and entertainment venue at 1515 Broadway on the iconic thoroughfare in the United States. The proposed casino site is currently a commercial building.
Sharpton’s support comes despite his previous comments against the expansion of gaming in the US. In 2020, he urged Colorado lawmakers to block the legalization of mobile betting, arguing that it would lead to job losses. However, the state decided to go ahead and regulate the market shortly after.
Jay-Z’s support
At the time, Sharpton wrote to Colorado Gov. Jared Polis: “Online gaming in Colorado will inevitably attract unsavory individuals who profit from job losses. That is almost certain. But when you look at who specifically benefits from the legislation, it is hard to see why the state would want to reward bad behavior.”
Commenting on his decision to support Caesars Times Square, Sharpton highlighted the support of Jay-Z. The music icon is behind Roc Nation, one of Caesars’ partners in the project. SL Green Realty Corp. is also involved in the proposal.
“Thanks to Jay-Z’s leadership and vision, we believe that for the first time our community will not only have a seat at the table, but also the opportunity to own a stake in the ownership of Caesars Palace Times Square,” Sharpton said in a press release.
“A casino in New York belongs in Times Square and should be designed to benefit all New Yorkers. That’s why I support Caesars Palace Times Square.”
Caesars discusses local investment opportunities
Expanding on its support, Caesars said Sharpton’s ties to the local community will be valuable to its proposal. It also highlighted how Williams’ knowledge of real estate investment opportunities will benefit the project.
Williams had already raised billions of dollars through his investment platforms, most notably Cadre, which he said helped low-income people invest in high-end real estate.
According to Caesars, families near Times Square will be able to access investment opportunities in the new project starting at just $500.
“The initiative overcomes long-standing barriers,” Williams said. “Through Rev. Williams’s extensive network and our shared dedication to economic inclusion, we will move from promises to real progress by providing tangible investor education and meaningful equity investment opportunities for everyday New Yorkers.”
Caesars said the support from Sharpton and Williams fits into its broader model of supporting the well-being of the people and communities in which it operates.
